Guideline Value for SINGARAVELAN 10TH CROSS STREET

Singaravelan 10th Cross Street guideline value

The current guideline value of Singaravelan 10th Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Neelankarai village, under the Neelankarai SRO, and is classified as Residential Class II Type - I.

How the guideline value of Singaravelan 10th Cross Street has changed

The guideline value for Singaravelan 10th Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in 2017. Following this, the value rose significantly to Rs 3,000 per sq.ft in 2023, and then increased to Rs 3,300 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for this street in 2002, 2003, and 2007.

Guideline values in Neelankarai

In Neelankarai, there are 377 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 10,500 per sq.ft. The median guideline value in the village is Rs 2,200 per sq.ft, positioning Singaravelan 10th Cross Street above this median.

• Singaravelan 1st Cross Street: Rs 3,300 per sq.ft (2024)
• Singaravelan 1st Street: Rs 3,300 per sq.ft (2024)
• Singaravelan 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Singaravelan 2nd Street: Rs 3,300 per sq.ft (2024)
• Singaravelan 3rd Cross Street: Rs 3,300 per sq.ft (2024)
• Singaravelan 3rd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Singaravelan 10th Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Singaravelan 10th Cross Street?

The Sub Registrar Office that covers Singaravelan 10th Cross Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

You can find your SRO for more details.

How the guideline value is used when you buy or sell in Neelankarai

The guideline value is a critical factor in the registration process for property transactions in Neelankarai. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring transparency and fairness in real estate dealings.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are essential costs associated with the transfer of property ownership. This ensures that both buyers and sellers are aware of the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Singaravelan 10th Cross Street?

The current guideline value of Singaravelan 10th Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification for Singaravelan 10th Cross Street?

Singaravelan 10th Cross Street is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for property in this area?

For a plot of 1,000 sq.ft, the total guideline value is Rs 33,00,000. The stamp duty at 7% is Rs 2,31,000, and the registration fee at 2% is Rs 66,000, totaling Rs 2,97,000.

Which office handles registrations for Singaravelan 10th Cross Street?

The Neelankarai Sub Registrar Office handles registrations for Singaravelan 10th Cross Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.